Pension Benefits Standards Act, 1985

Marginal note:Funding of pension plan

• 9 (1) A pension plan shall provide for funding, in accordance with the prescribed tests and standards for solvency, that is adequate to provide for payment of all pension benefits and other benefits required to be paid under the terms of the plan.

• Marginal note:Actuarial reports

  (2) In the case of an actuarial report required pursuant to subsection 12(3), where the Superintendent is of the opinion that the report has not been prepared

  • (a) on the basis of actuarial assumptions or methods that are adequate and appropriate, and

  • (b) in accordance with the standards of practice adopted by the Canadian Institute of Actuaries, except as otherwise specified by the Superintendent,

  the Superintendent shall notify the administrator in writing of this opinion and shall direct the administrator to cause the appropriate changes to be made to the report, and the administrator shall forthwith comply with such a direction.

• Marginal note:Amended report

  (3) A pension plan shall be funded in accordance with the report referred to in subsection (2) as amended pursuant to any direction of the Superintendent under that subsection.

• (4) to (6) [Repealed, 1998, c. 12, s. 8]